News: Front Section
Posted: December 8, 2023
MountainOne’s Richard Kelly promoted to senior vice president, senior commercial risk officer
MountainOne Bank has promoted Richard ‘Dick’ Kelly, who has assumed the role of senior vice president, senior commercial risk officer. This newly created position supports MountainOne’s commitment to asset quality while enhancing its loan approval process.
Kelly now provides direct oversight of Credit Administration and of all Portfolio Managers across both of MountainOne’s geographic regions of the South Shore and the Berkshires. Additionally, Kelly works directly with all commercial lenders on new and existing business loan relationships to help provide experienced guidance, perspective, and management of these credits.
Kelly originally joined MountainOne Bank in 2020 as senior vice president, commercial team leader for the bank’s Berkshires region and is a member of the bank’s senior leadership team.
“This organizational change streamlines MountainOne’s commercial loan approval process, while maintaining a focus on asset quality and portfolio management,” said Bob Fraser, MountainOne’s president & CEO. “Our commercial lenders can now have a greater focus on relationship management, including providing a suite of cash management services.”
Kelly brings nearly 40 years of commercial lending, credit underwriting, and credit administration experience to this role, and splits his time between the Berkshires and bank’s South Shore region.
Kelly is especially active in the Great Barrington community, and currently serves on the Berkshire Community College Foundation Board. Previously, Kelly was involved with The United Way (community representative), Lions Club (member & past president), Southern Berkshire Chamber of Commerce (past treasurer), the Town of Great Barrington and the Wyantenuck Country Club (member & past president).
Kelly received his Bachelor of Arts in Economics from Hamilton College in Clinton, NY.
MountainOne is a mutual holding company headquartered in North Adams, MA. Founded in 1848, MountainOne Bank provides a complete array of personal and business banking and electronic services. MountainOne Bank is Member FDIC and Member DIF. Products and services are offered at full-service offices in the Berkshires (Pittsfield, North Adams, Williamstown) and on Boston’s South Shore (Quincy, Rockland, Scituate).
Tags:
Front Section
MORE FROM Front Section
Newmark negotiates sale of 10 Liberty Sq. and 12 Post Office Sq.
Boston, MA Newmark has completed the sale of 10 Liberty Sq. and 12 Post Office Sq. Newmark co-head of U.S. Capital Markets Robert Griffin and Boston Capital Markets executive vice chairman Edward Maher, vice chairman Matthew Pullen, executive managing director James Tribble,
Columns and Thought Leadership
Five ways to ruin a Section 1031 Like-Kind Exchange - by Bill Lopriore
While there is some flexibility when structuring a like-kind exchange, some important requirements must be met. A mistake can ruin your exchange. Here are five mistakes to avoid:
Make PR pop by highlighting unique angles - by Stanley Hurwitz
Coming out of the pandemic, a client with three hotels in Provincetown, Mass., needed ways to let the world know his properties were open for business for the 2021 tourist season.
Four tips for a smooth 1031 Exchange - by Bill Lopriore
Many real estate investors do not understand the specific requirements that must be met to secure the benefits of a tax-deferred 1031 exchange. For example, the replacement property must be identified within 45 days of the closing date of the relinquished property.
How COVID-19 has impacted office leasing - by Noble Allen and John Sokul
To say that the effects of COVID-19 has transformed office leasing is an understatement. When COVID-19 was at its peak, office spaces were practically abandoned either through governmental mandates or through actions taken by businesses themselves.